Wednesday, May 27, 2009

We are still in consolidation as long as we stay within the 875-930 range. We are in a low-volume neutral range.

I have been stressing careful selection for several weeks now. I was up +1% yesterday (on a -2% down day), primarily due to my gains in AVII, BLTI, DVAX, PLLL, TGB and a day trade in OCLS. If you are a swing trader, it is your duty to stem any bleeding by any means necessary. Half of my positions declined today, and CTIC, KV/A, and UXG remained neutral.

I made a big mistake yesterday by selling ANPI 1 hr before the initial intra-day spike. The stock went on to gain more than +45%. It happens, so you just move on and find the next breakout. These days, there's always a stock that moves 100% or more in a single day (AXL, OXGN, OCLS, etc). Find them.

I may add some more longs in the bio/pharm sector today and do some rebalancing. I see more opportunities going forward. Remember, selective positioning ensures loss containment.

CHAT

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